Swing Trading ideas - page 39

GBPUSD broke above 1.2883 resistance. Further rally towards the falling trend line on the 4-hour chart is possible, and a breakout of the trend line would indicate that the downside movement from 1.3174 had completed at 1.2723 already, then the following upside movement could take the price to 1.3200 area. On the downside, as long as the trend line resistance holds, the bounce from 1.2723 would possibly be consolidation for the downtrend and another fall towards 1.2600 is possible after the consolidation.

EURUSD remains in the downtrend from 1.1815, the bounce from 1.1215 is likely consolidation for the downtrend. As long as 1.1500 key resistance holds, the downside movement could be expected to continue and next target would be at 1.1100 area. Only a breakout of 1.1500 resistance would indicate that the downside movement had completed at 1.1215 already, then another rise towards 1.1700 could be seen.

EURUSD broke below the bullish trend line on the 4-hour chart, suggesting that the upside movement from 1.1215 had completed at 1.1472 already. The pair is now in downtrend, further decline could be expected and next target would be at 1.1250 area. Near term resistance is at 1.1360, only a break of this level could trigger another rise towards 1.1500.

GBPUSD failed to break above the falling trend line on the 4-hour chart and pulled back from 1.2927, suggesting that the pair remains in the downtrend from 1.3174. Another fall to test 1.2695 support would likely be seen in the coming days. Only a breakout of the trend line resistance could signal completion of the downtrend.

EURUSD remains in the downtrend from 1.1472, further decline could be expected and next target would be at 1.1250 area. Resistance is at 1.1383, only a break of this level could trigger another bullish movement towards 1.1500.

GBPUSD stays below a bearish trend line on the 4-hour chart and remains in the downtrend from 1.3174. As long as the price is below the trend line, the downside movement could be expected to continue and next target would be at 1.2695 support. Key resistance is at 1.2927, only a breakout of this level could signal completion of the downtrend.

EURUSD extended its downside movement from 1.1472 to as low as 1.1277. Further decline is still possible and next target would be at 1.1215 support. Near term resistance is at 1.1340, only a breakout of this level could bring the price back towards 1.1500.

GBPUSD’s fall from 1.2927 extended to as low as 1.2725. Further decline to test 1.2695 support is possible in the coming days, below this level would aim 1.2500. Near term resistance is at 1.2780, only a break of this level could bring the price back towards the bearish trend line on the 4-hour chart.

EURUSD broke above 1.1340 resistance, suggesting that the downside movement from 1.1472 had completed at 1.1267 already. Further rally would likely be seen and next target would be at 1.1450 area. Support is at 1.1320, only a breakdown below this level could trigger another fall towards 1.1200.

EURUSD is forming a triangle pattern on the 4-hour chart. Another rise towards the upper trend line of the pattern is possible in a couple of days, a breakout of the this trend line could take the price to 1.1500 area. On the downside, a breakdown below the bottom support trend line could signal resumption of the downtrend from 1.1815 (Sep 24 high), then next target would be at 1.1200 area.